Tuesday, 29 January 2019

Bank Nifty Spot Outlook for 30th Jan

BANK NIFTY


In the previous session Bank Nifty spot opened at 26616.25 and made a low of 26441.55,  it made a high of 26743.85,  before closing at 26573.40.

Had mentioned that long trade for the day will get triggered on sustaining above 26715 and short trade for the day will get triggered on sustaining below 26590 .Bank Nifty initially triggered our short trade and did 150 points .

Had mentioned " For this week Bank Nifty needs to break and sustain / close above 27230 to test 27355 - 27385 initially and above it we can see a test of 27490 - 27605 . Similarly Bank Nifty needs to break and sustain / close below 27000 to test 26875 - 26845 initially and below it we can see a test of 26740 - 26625. " , and Bank Nifty had triggered our weekly short trade and completed all our weekly short targets in the previous session and today bettered it by another 180 points.

Also as mentioned " For the month of January , longs will get confirmed with a consecutive close above 27290 for a initial target of 27725 - 27835 and sustaining / closing above it we can see a further test of 28210 - 28620 . Similarly , shorts will get confirmed with a consecutive close below  26465 for a initial target of 26035 - 25925 and sustaining / closing below it we can see a further move till 25550 - 25135." , and Bank Nifty had made a high of 27754.25 testing our initial targets of 27725 - 27835 after confirming our monthly long trade and had reversed . Today it tested our shorting level of 26465 with a low of 26441.55. but closed well above it . 

Had mentioned in the previous post "Now in the coming session Bank Nifty has to hold 26415 for a pullback to be expected towards 26715 - 26755 initially and above it towards 26865" , and Bank Nifty made a low of 26441 and bounced back to test 26715 - 26755 .

Now in the coming session Bank Nifty needs to break and sustain above 26635 to test 26695 - 26710 initially and sustaining above it we can see a further upmove till 26765 - 26825. Similarly breaking and sustaining below 26515 we can see a test of 26455 - 26435 initially and sustaining below it we can see a further correction till 26385 - 26325. 



Bank Nifty Spot Levels for the day are

Long above 26635 for 26670 - 26710 - 26825 , SL 26590

Short below 26515 for 26480 - 26435 - 26325 , SL 26555

If you want to see the post in your Inbox , kindly register by adding your email id in  the 'Subscribe to my posts' section on the top right side of the blog. Also please give your valuable feedback by selecting the appropriate reactions box at the bottom of the post.

Disclaimer : These are my personal views and one should do their own research before entering any trades based on them  . The use of the blog is agreement that the blog is for informational and educational purposes only and does not constitute advice in any form in the furtherance of any trade or trading decisions.

No comments:

Post a Comment